Much more than comparative advantage and free markets have been at play in shaping China＇s export success. Government policies have helped nurture domestic capabilities in consumer electronics and other advanced area...Much more than comparative advantage and free markets have been at play in shaping China＇s export success. Government policies have helped nurture domestic capabilities in consumer electronics and other advanced areas that would most likely not have developed in their absence. As a result, China has ended up with an export basket that is significantly more sophisticated than what would be normally expected for a country at its income level. This has been an important determinant of China ＇s rapid growth. What matters for China＇s future growth is not the volume of exports, but whether China will continue to latch on to higher-income products over time.展开更多
基金This is a paperprepared for the project on "China and the Global Economy 2010" of the China Economic Research andAdvisory Program. I am indebted to Edwin Lim for his guidance and comments, and to the Program forfinancial support
文摘Much more than comparative advantage and free markets have been at play in shaping China＇s export success. Government policies have helped nurture domestic capabilities in consumer electronics and other advanced areas that would most likely not have developed in their absence. As a result, China has ended up with an export basket that is significantly more sophisticated than what would be normally expected for a country at its income level. This has been an important determinant of China ＇s rapid growth. What matters for China＇s future growth is not the volume of exports, but whether China will continue to latch on to higher-income products over time.
